China tightened rules on moving capital outside the country in recent months as it sought to support the yuan currency and stem a slide in its foreign exchange reserves. Photo: BloombergBeijing: China’s foreign exchange reserves rose more than expected in July to a nine-month high as tighter regulations and a weaker dollar curbed capital outflows. Reserves rose $24 billion in July to $3.081 trillion, compared with an increase of $3.2 billion in June. Economists polled by Reuters had expected reserves to rise $12 billion. The value of gold reserves rose to $75.084 billion at the end of July, from $73.585 billion at end-June, data on the People’s Bank of China website also showed.

Source: Mint August 07, 2017 10:30 UTC